Indian shares are likely to open lower on Tuesday, tracking weak Asian peers amidst renewed worries over global trade after
a Bloomberg report that the United States is preparing to announce tariffs on all remaining Chinese imports by early December.
At 07.22 AM, SGX Nifty, an early indicator of the Nifty 50's trend in India, was down 0.32 percent to 10,243, indicating a negative start for the Indian market today.
Here is what you need to know before the market opens: Asia: MSCI's broadest index of Asia-Pacific shares outside Japan slid 0.1 percent, tracking falls in US stocks. The index has fallen more than 12 percent this month. Japan's Nikkei average rose 0.9 percent and the Australian benchmark shed 0.2 percent in early morning trade. US: On Monday, the Dow Jones Industrial Average fell 245.39 points, or 0.99 percent, to 24,442.92, the S&P 500 lost 17.44 points, or 0.66 percent, to 2,641.25 and the Nasdaq Composite dropped 116.92 points, or 1.63 percent, to 7,050.29. Crude Oil Prices: Front-month Brent crude oil futures were at $76.78 a barrel at 0040 GMT, down 56 cents, or 0.8 percent, from their last close. US West Texas Intermediate (WTI) crude futures were at $66.78 a barrel, down 26 cents, or 0.4 percent, from their last settlement. Market At Close On Monday: Indian market on Monday began the week on a strong note with benchmark indexes gaining in a range of 1-3 percent, led by financials. The broader 50-stock NSE index, Nifty50 gained more than 200 points to end the session at 10,250. The Nifty regained the previous two day’s losses to see a close above the level of 10,200. The BSE Sensex jumped by 718 points to end at 34,067. Rupee: The Indian rupee inched up on closing by 1 paisa to 73.44 against the US dollar on Monday. Dollar: The dollar index, a gauge of the currency’s strength against six major peers, traded at 96.66, up 0.1 percent on Tuesday. On Friday, it hit a 2018 high of 96.86. The Japanese yen, also seen as a refuge during times of heightened investor concerns, traded in a narrow range ahead of the Bank of Japan’s monetary policy announcement due on Wednesday. FII & DII data: Foreign institutional investors (FIIs) sold shares worth Rs 2,231 crore while domestic institutional investors (DIIs) bought shares worth Rs 2,527 crore in the Indian equity market on October 29. Indo-Japan Bilateral Talks: India and Japan on Monday concluded a $75 billion bilateral currency swap agreement, a move that will help in bringing greater stability in foreign exchange and capital markets in the country. The agreement will further strengthen and widen the depth and diversity of economic cooperation between the two countries. Ola-Uber Woes: Close to 40,000 commuters in Mumbai have been stranded after drivers of taxi aggregators Ola and Uber decided to go on strike since October 22. This strike has been called under the banner of Maharashtra Rajya Rashtriya Kamgar Sangh, which has been demanding an increase in fare from Rs 6 per km to Rs 18 per km. Government-RBI Rift: Government officials are very upset with the Reserve Bank of India (RBI) for publicly talking about a rift with the government, fearing it could tarnish the country's image among investors, senior officials said on Monday. On Friday night, the RBI Deputy Governor Viral Acharya warned that undermining a central bank's independence could be "potentially catastrophic", in an indication that it is pushing back hard against government pressure to relax its policies and reduce its powers. (With inputs from agencies)